The French multinational energy company, has been active in recent days with announcements on acquisitions, divestitures, and strategic shifts.
TotalEnergies unveiled plans for 4% annual growth in total energy output and 3% in oil/gas production through 2030, alongside $7.5 billion in savings and a focus on electric and LNG segments, with over 40% of cash flow returned to shareholders.
The company divested up to 50% of a 270 MW renewable energy portfolio in France to meet its 12% profitability target for integrated power, with similar moves planned globally except in key markets like the U.S., Brazil, and Europe. TotalEnergies sold a 50% stake in a 1.4 GW solar portfolio in North America to KKR for approximately $950 million, including bank refinancing, as part of broader cost-cutting efforts.
TotalEnergies signed an agreement to acquire a 49% interest in natural gas producing assets in the Anadarko Basin from Continental Resources, advancing its integration in the U.S. gas value chain. Due to ongoing security concerns, TotalEnergies has postponed the restart of its Mozambique LNG project to 2029. CEO Patrick Pouyanné indicated that Russian LNG cargoes could be rerouted to Turkey or India if the EU imposes bans without sanctioning key facilities like Yamal.
On X (formerly Twitter), discussions highlight LNG market forecasts, with TotalEnergies anticipating tight supply in 2026-2027 followed by softer prices from 2028 onward, potentially driving coal-to-gas switching in Asia.
TotalEnergies said at an Investor Day in New York that it would boost oil and gas production by three percent over that period. Under fire for continued fossil fuel investments, the company argues oil and gas remain essential to meet global demand and fund renewable technology. The oil and gas giant, which has expanded into renewables like wind and solar, plans to focus on high-margin exploration and production projects while staying selective on low-carbon investments.
As part of its cost-cutting plan, the company will trim annual capital expenditures to $16 billion in 2026 and $15-17 billion between 2027 and 2030 – about $1 billion less than previous guidance.
/X, AFP/